Wellington Management Group LLP Cuts Position in Deere & Company (NYSE:DE)

Wellington Management Group LLP trimmed its holdings in shares of Deere & Company (NYSE:DE) by 8.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 6,746,148 shares of the industrial products company’s stock after selling 606,317 shares during the period. Wellington Management Group LLP owned approximately 2.49% of Deere & Company worth $2,858,343,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Pineridge Advisors LLC boosted its stake in Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 26 shares during the last quarter. Modus Advisors LLC bought a new position in shares of Deere & Company during the fourth quarter valued at $32,000. YANKCOM Partnership purchased a new stake in shares of Deere & Company during the fourth quarter valued at $34,000. Synergy Asset Management LLC bought a new stake in Deere & Company in the 4th quarter worth about $35,000. Finally, Continuum Advisory LLC lifted its stake in Deere & Company by 155.8% during the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 67 shares during the period. 68.58% of the stock is owned by institutional investors.

Deere & Company Price Performance

NYSE DE opened at $465.27 on Monday. The company has a market cap of $126.28 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 2.14 and a beta of 1.01. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The stock’s fifty day moving average price is $477.28 and its 200 day moving average price is $440.12. Deere & Company has a 1 year low of $340.20 and a 1 year high of $515.05.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. As a group, equities research analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.39%. The ex-dividend date is Monday, March 31st. Deere & Company’s payout ratio is currently 28.72%.

Insider Buying and Selling

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total value of $12,304,993.80. Following the completion of the transaction, the insider now owns 74,878 shares in the company, valued at $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.29% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

DE has been the subject of a number of research reports. Robert W. Baird reiterated a “neutral” rating and set a $501.00 target price on shares of Deere & Company in a research note on Monday, March 3rd. Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a research report on Friday, December 6th. Baird R W cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. increased their target price on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Finally, Evercore ISI lifted their price target on shares of Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Fourteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $460.00.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.